1, Domestic cotton futures prices rise, spot prices stabilize
The domestic cotton processing progress has slightly slowed down, and the sales progress of lint has been slower year-on-year. Downstream textile enterprises have replenished their inventory in stages. Driven by the rise in international cotton futures prices, domestic cotton futures prices have risen, and spot prices have stabilized. From December 4th to 8th, the average settlement price of the main contract of Zhengzhou cotton futures was 15054 yuan/ton, an increase of 259 yuan/ton from the previous week, or 1.8%; The national cotton price B index, which represents the market price of standard grade cotton in mainland China, has an average price of 16288 yuan/ton, a decrease of 68 yuan/ton from the previous week, a decrease of 0.4%.
2, International cotton prices are rising
The registered inventory of cotton futures on the Intercontinental Exchange (ICE) has significantly decreased. On Thursday, the US Department of Agriculture announced a significant increase in US cotton export shipments last week, leading to a rapid increase in international cotton futures prices and a slight increase in spot prices. After the US Department of Agriculture significantly reduced global cotton consumption on Friday, cotton futures prices rebounded some of the gains from the previous day. From December 4th to 8th, the average settlement price of the main cotton futures contract in New York was 80.43 cents per pound, an increase of 1.04 cents per pound or 1.3% compared to the previous week; The international cotton index (M) representing the average landed price of imported cotton in China's main port is 90.05 cents per pound, an increase of 0.13 cents per pound or 0.1% compared to the previous week; The import cost in RMB is 15682 yuan/ton (calculated based on 1% tariff, excluding port charges and freight), an increase of 15 yuan/ton compared to the previous week, an increase of 0.1%. The domestic cotton price is 606 yuan/ton higher than the international cotton price, and the price difference has narrowed by 83 yuan/ton compared to the previous week.
3, The decline in domestic and international cotton yarn prices has slowed down
The overall domestic cotton yarn market remains weak, with some regions experiencing a slight improvement in cotton yarn production and sales compared to the previous period. With the recent stabilization and recovery of cotton prices, yarn traders have reduced their sales by lowering prices, and the decline in cotton yarn prices has slowed down. In the international cotton yarn market, global demand for textiles and clothing continues to be weak, and sales pressure from Pakistani yarn factories continues, resulting in a slight decline in outer yarn prices. At present, the average price of conventional outer yarn is 462 yuan/ton lower than that of domestic yarn. The market orders for grey fabrics have increased slightly, and the price of all cotton grey fabrics remains stable. The price of domestic polyester staple fibers continues to decline.
